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The "Big Mac Theory of Exchange Rates" Tests the Accuracy

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The "Big Mac Theory of Exchange Rates" tests the accuracy of purchasing power parity theory.In July 2013,The Economist reported that the average price of a Big Mac in the United States was $4.56.In India,the average price of a Big Mac at that time was 90 rupees.What is the "implied exchange rate" between the yen and the dollar?


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